ChevyMgr

GM pays off its bailout loans

NEW YORK (CNNMoney.com) -- General Motors has made a final payment of $5.8 billion to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans, the company said Wednesday.


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hyperv6

Next to sell the IPO's and buy back the 61% the goverment ownes if they will sell it back.

The goal is 2014-2015 to be free and clear with now debts like Ford has on the loans they still owe on.

Many forget Ford leveraged their plants for a big loan 3-4 years ago and still owe a lot of money.

Jeff®

http://www.thetruthaboutcars.com/gra...-the-tarp-tax/

socalhhrjjj

Jeff,
I had heard that before, thanks for the link! Simply Amazing, definitely a SHELL game.

Doc brown

A shell game yes, but what do you want to see them do? Hold onto it all? They paid back money they don't need. It doesn't really matter where it came from. As they become a stronger company, it will all be paid back eventually. From a marketing perspective, paying this money back was the right thing to do. GM has a long road ahead of them to build confidence back into the company. Doing it now takes advantage of the trust issues that Toyota has, without actually pointing out to people that their cars safe to drive.

joeblue

Thank you. They payed back ahead of time and people still aren't happy, WTF. What about the crooks on wall street.

socalhhrjjj

Come on guys....I'm a Chevy fan too, but don't tell me your white car is red because you put it in the shade, it's still white. they've paid nothing back, they just removed funds around. It's time we stop making excuses for all corporations for not making sound business decision, that includes politicians that want to do shuffles like this. It's not paying it and it's time we stop looking the other way and making excuses for it!

solman98

Do a google search on Senator Chuck Grassley........ No proof, lot's of speculations. Geez, if GM and Obama are happy, that should be all that matters here. Every company in the world "shuffles" money. SHow proof or just shut up.

Oh and don't forget to mention your own Iowa shuffeling...U.S. Sen. Grassley: $560,306 to Iowa State University
4/27/2010

ChevyMgr

If I get a 1 year loan for a home improvement for $10,000 and then 2 months later decide not to do the home improvement, am I doing a shell game if I repay the money back with the same money, plus 2 months interest? Even If the interest money is from another source? Lets say I obtained that money using something I owned as the collateral. I have paid back my obligation and I used other monies to pay the interest.

So GM obtained money in 2 ways. One was a loan and one they used stock in the company. Even if they paid the monies back with the monies obtained from the stock, it's still paid back, with interest.

Is this a PR action? Probably. Was it planned when the loan was originally done? Possibly. Did the US Government get their money back, plus interest, plus they still have the stock? Yes.

socalhhrjjj

No proof???? They've already admitted the money was paid by another government loan to keep them from paying the new tariff. Why is it the only thing liberals can say is show me proof or shut up? Trying reading the FACTS. I want them to succeed also, but even their own VP admitted what was being done. You want facts, trying reading and understanding, Iowa Shuffeling, what are you talking about, oh yea that's what else you guys do, point fingers at others and say see..hiding from the true facts in front of you